Acadian Asset Management LLC reduced its holdings in shares of Danaher Co. (NYSE:DHR) by 13.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,220,299 shares of the conglomerate’s stock after selling 194,046 shares during the quarter. Acadian Asset Management LLC owned 0.17% of Danaher worth $132,598,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Mitchell Capital Management Co. grew its stake in Danaher by 31.6% during the second quarter. Mitchell Capital Management Co. now owns 7,962 shares of the conglomerate’s stock worth $786,000 after buying an additional 1,914 shares during the period. Private Wealth Partners LLC grew its stake in Danaher by 14.3% during the second quarter. Private Wealth Partners LLC now owns 95,800 shares of the conglomerate’s stock worth $9,454,000 after buying an additional 11,961 shares during the period. Centaurus Financial Inc. grew its stake in Danaher by 20.3% during the second quarter. Centaurus Financial Inc. now owns 3,026 shares of the conglomerate’s stock worth $299,000 after buying an additional 510 shares during the period. CIBC Asset Management Inc grew its stake in Danaher by 12.5% during the second quarter. CIBC Asset Management Inc now owns 68,204 shares of the conglomerate’s stock worth $6,730,000 after buying an additional 7,565 shares during the period. Finally, OppenheimerFunds Inc. grew its stake in Danaher by 1.5% during the second quarter. OppenheimerFunds Inc. now owns 350,122 shares of the conglomerate’s stock worth $34,550,000 after buying an additional 5,048 shares during the period. Institutional investors own 76.80% of the company’s stock.
Several research firms have issued reports on DHR. Zacks Investment Research upgraded shares of Danaher from a “hold” rating to a “buy” rating and set a $119.00 price objective for the company in a research note on Wednesday, September 19th. Morgan Stanley boosted their target price on shares of Danaher from $122.00 to $126.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 10th. Bank of America set a $113.00 target price on shares of Danaher and gave the stock a “buy” rating in a research report on Thursday, July 19th. Royal Bank of Canada boosted their target price on shares of Danaher to $107.00 and gave the stock a “positive” rating in a research report on Thursday, July 19th. They noted that the move was a valuation call. Finally, Robert W. Baird reduced their target price on shares of Danaher from $116.00 to $114.00 and set an “outperform” rating on the stock in a research report on Friday, October 19th. One equities research analyst has rated the stock with a hold rating and fifteen have assigned a buy rating to the stock. The company currently has an average rating of “Buy” and an average price target of $112.14.
Danaher (NYSE:DHR) last posted its earnings results on Thursday, October 18th. The conglomerate reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $1.07 by $0.03. Danaher had a net margin of 14.07% and a return on equity of 11.59%. The business had revenue of $4.85 billion for the quarter, compared to analysts’ expectations of $4.80 billion. During the same period in the previous year, the company posted $1.00 earnings per share. The business’s revenue for the quarter was up 7.2% compared to the same quarter last year. As a group, equities research analysts anticipate that Danaher Co. will post 4.51 earnings per share for the current year.
The business also recently declared a quarterly dividend, which was paid on Friday, October 26th. Investors of record on Friday, September 28th were issued a $0.16 dividend. The ex-dividend date was Thursday, September 27th. This represents a $0.64 annualized dividend and a yield of 0.65%. Danaher’s dividend payout ratio is presently 15.88%.
In related news, EVP William K. Daniel sold 103,086 shares of the company’s stock in a transaction on Friday, August 10th. The shares were sold at an average price of $100.63, for a total value of $10,373,544.18. Following the sale, the executive vice president now directly owns 167,080 shares of the company’s stock, valued at $16,813,260.40. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Donald J. Ehrlich sold 10,578 shares of the company’s stock in a transaction on Tuesday, October 23rd. The shares were sold at an average price of $95.77, for a total transaction of $1,013,055.06. Following the completion of the sale, the director now directly owns 105,491 shares in the company, valued at $10,102,873.07. The disclosure for this sale can be found here. Insiders sold 143,448 shares of company stock worth $14,306,623 over the last ninety days. 11.90% of the stock is currently owned by corporate insiders.
Danaher Corporation designs, manufactures, and markets professional, medical, industrial, and commercial products and services worldwide. The company's Life Sciences segment provides laser scanning, compound, surgical, and other stereo microscopes. This segment also offers filtration, separation, and purification technologies to the biopharmaceutical, food and beverage, medical, aerospace, microelectronics, and general industrial sectors.
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